Russian Regulators Probe AvtoVAZ, 36.6 Trades After Major Price Swings

Russian regulators are probing possible market manipulation in the shares of OAO AvtoVAZ and OAO Pharmacy Chain 36.6 after major price swings.

“We’re analyzing the situation,” Federal Financial Markets Service chief Vladimir Milovidov said on his blog.

AvtoVAZ, the country’s largest automaker, gained more than 70 percent on the Micex Stock Exchange last week, while 36.6 gained 30 percent Sept. 3, 17 percent Sept. 6 and declined 16 percent yesterday. AvtoVAZ has fallen 22 percent this week.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

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